Transferable Letters of Credit

Do You...

Act as a purchasing agent in Canada for an overseas buyer?
Source your imports through your agents in other countries?
Have business contacts in different countries, facilitating two-way trade transactions between importers and exporters?
...then consider a Transferable Letter of Credit.

What Is A Transferable Letter Of Credit?

A Transferable Letter of Credit is generally used when the beneficiary of a Letter of Credit is not the actual supplier of the goods, but an intermediary (middleman). A Transferable Letter of Credit is a regular Letter of Credit with an additional term that allows a named bank to transfer an amount of the Letter of Credit to one or more of the actual suppliers. This transfer is completed at the request of the original beneficiary of the Letter of Credit.

Key Benefits

Saves You Money

With support from CIBC Trade Finance's specialists, companies can more efficiently structure international transactions

Makes You Money

As an intermediary (middleman), you can generate revenue for co-ordinating the trade transactions between the importer and the exporter
As an intermediary (middleman), you may do business on a larger scale, since the security provided by the Letter of Credit may be transferred to the actual supplier

Saves You Time

Expedites transactions between importers and exporters

Convenient

CIBC Trade Finance provides you with technical expertise and the necessary tools to support your business transactions

Please Note: Products and their features may change at any time. This is a general description only; for more information call the CIBC Trade Finance Help Desk at 1-800-268-6331.

Trade Finance Disclaimers